Proficio Capital Partners LLC Makes New Investment in LendingClub Co. (NYSE:LC)

Proficio Capital Partners LLC bought a new position in shares of LendingClub Co. (NYSE:LC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 27,993 shares of the credit services provider's stock, valued at approximately $453,000.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of LendingClub by 21.6% during the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider's stock valued at $9,584,000 after purchasing an additional 148,685 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock valued at $11,409,000 after purchasing an additional 45,307 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of LendingClub during the third quarter valued at approximately $237,000. GSA Capital Partners LLP lifted its holdings in shares of LendingClub by 47.3% during the third quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider's stock valued at $2,448,000 after purchasing an additional 68,791 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of LendingClub by 153.2% during the third quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider's stock valued at $1,815,000 after purchasing an additional 96,053 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $16.00 target price (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Piper Sandler reissued an "overweight" rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.00.

Insiders Place Their Bets

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the transaction, the chief executive officer now owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. The trade was a 1.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jordan Cheng sold 7,000 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the sale, the general counsel now owns 88,263 shares in the company, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,000 shares of company stock valued at $606,660. Company insiders own 3.31% of the company's stock.

LendingClub Trading Up 4.6 %

NYSE:LC traded up $0.48 during trading hours on Friday, reaching $10.89. The company had a trading volume of 1,145,105 shares, compared to its average volume of 1,564,421. LendingClub Co. has a 52 week low of $7.48 and a 52 week high of $18.75. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 24.19 and a beta of 2.07. The firm's 50 day moving average price is $14.08 and its 200-day moving average price is $13.92.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.